Persisted

A “strong and mature” El Nino — the warming of sea surface temperatures in the central and eastern equatorial Pacific Ocean — persisted during January, but it is likely to fade this spring, increasing the chances for an active Atlantic hurricane season this year, according to the National Oceanic and Atmospheric Administration’s Climate Prediction Center (CPC).

A “strong and mature” El Nino — the warming of sea surface temperatures in the central and eastern equatorial Pacific Ocean — persisted during January, but it is likely to fade this spring, increasing the chances for an active Atlantic hurricane season this year, according to the National Oceanic and Atmospheric Administration’s Climate Prediction Center (CPC).

A “strong and mature” El Nino — the warming of sea surface temperatures in the central and eastern equatorial Pacific Ocean — persisted during January, but it is likely to fade this spring, increasing the chances for an active Atlantic hurricane season this year, according to the National Oceanic and Atmospheric Administration’s Climate Prediction Center (CPC).

Could London’s BP plc actually be interested in taking over Chesapeake Energy Corp.? Rumors persisted last week that the major might have a deal in the works to buy the natural gas producer, but financial analysts said a buyout was unlikely considering the size of Chesapeake and BP’s decision last year to trim its sails.

As infrastructure and market functioning problems persistedMonday, the California Independent System Operator (Cal-ISO) calledits 14th Stage One power alert since Nov. 1 and the 46th of theyear, signifying its reserves were expected to dip below 7% whendemand peaked between 5-7 p.m. PST. Initial indications were thatCal-ISO’s price cap lifting late Friday brought additional supplybids but had no impact on easing price increases.

A 270 MMcf/d reduction in San Juan Basin supply persisted intothe weekend-and possibly beyond-as El Paso reported it had founddamage to internal rotating components in its Blanco Plant’s “D”turbine that would require removal and inspection. The plant hadbeen scheduled to resume full operation Thursday. If the parts canbe repaired and reused, the turbine should return to service May31, El Paso said. But if the parts must be replaced, the projectedreturn date is June 5.